In this video, I will talk about how a divorce can cause major backlash in terms of finances. I explain 6 different ways spouses are able to hide money and assets from the divorcing spouse.
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With more than 19 years of experience, David has acted as a litigation consultant, expert witness, forensic accountant and fraud investigator. David has consulted, testified and authored expert Forensic Accounting and Investigative reports accepted and used in civil, criminal and public inquiry proceedings.
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As unfortunate as it might be, there are instances in which a person might feel the need to hide money from their spouse, especially in matters related to a possible divorce. While this is not a recommended course of action, people may choose to engage in such behaviors due to a lack of trust, anxiety, or malicious intent. If you find yourself in such a situation, here are six ways that spouses might try to hide money from each other.
1. Stashing cash in secret locations
One way to hide money from your spouse is to physically store it in secret locations such as under the mattress, inside a hollow book, or buried in a spot outdoors. This method can be risky, as there is always the possibility that your spouse might accidentally come across the stash or start to suspect your behavior.
2. Creating a separate account
A common way that people might try to hide money from their spouse is by creating a separate bank account under a different name or using a pseudonym. This account can be used to accumulate a portion of the marital funds that will not be disclosed during divorce proceedings.
3. Overpaying creditors or family members
Another method that one might engage in is overpaying a creditor or family member. A method like this can not only make the wrongdoer look good on paper, but they can also get the money back after the divorce proceedings end.
4. Hiding assets in plain sight
Instead of stashing money under the mattress, hiding valuable assets in plain sight where they won’t be detected is a popular way to sneak a few dollars past your spouse. A valuable piece of art on the walls, underpriced stocks or vintage guitars in a closet are all methods that may be used to transfer discreet funds to offshore bank accounts or private trust funds.
5. Overpaying Taxes
Another method that might deceive your spouse is overpaying your taxes with the intention of using a refund to your advantage. You might also over-withhold on payroll taxes or defer bonus payments.
6. Transferring money to a safe haven offshore
Another way to hide money from your spouse might be a transfer to an overseas account or location where the funds are out of reach. This method could help a partner legitimize the transfer of cash, and in some cases, can occur years before the actual divorce is initiated.
Hiding money from your spouse is not condoned, and it can lead to heated arguments and legal issues in the future. The recommendations above should not be implemented, as it will most likely prolong and even further complicate the divorce proceedings. Communication and transparency are always recommended in a union, and spouses should learn to manage funds and assets jointly. In case of divorce, it is best to consult with a lawyer and work towards a solution that is in the interests of both parties.
I dated an absolute bum who cheated on me with escorts and strippers, On the outer surface he appeared to be a respectable attorney at law very dignified but turned out to be everything but int he end i found he fund most of his addiction via spousal support that of his former ex wife. The two years following his divorce he bought lavish gifts including luxury vehicles luxury vacations all at the expense of the spousal support is not a doubt in my mind that he commits spousal fraud, Sadly his former wife still in her 40s despite being much successful decided to retire to be exempt from having to pay him further
Don't get married and you won't have to jump through these hoops and can keep all your money.
Marriage is dumb anyways.
I mean, are you gonna have a sibling love ceremony or sign a sibling love contract with the government with your brothers/sisters? If that seems dumb to you, so should marriage.
Spouse refuses to produce copy of life Insurence (buy sale agreement). I’m in an extremely corrupt state/parish. Any advice ? 10 years of marriage and left with only what I could carry
Put it in Bitcoin.
Become a Attorney,Liquor store owner or Barkeeper . You will be guaranteed to Reap a boon on Human tragedy. All that money being a Sugar Daddy and She still looking for bigger and better things. All that hairstyle just to find out She likes bald things and givin it up to the bald man. Its Hit Em Up Style.
Literally all you have to do is hide the money in cash somewhere. Don’t keep it in a bank account. Do this way before the thought of a divorce is even a thing. If you think your wife won’t try to clean you out in a divorce, think again. Do not trust anyone, especially women.
My husband had hid a ton. He’s done things he will surly take to the grave. Trust is a major issue for me.
Monero
Omg! I had a joint and a I always had another account just me by myself in case he started acting up! So he removed himself from the joint account and I closed it. So I good right? What about a savings account? Can I open one by myself? I was going to have my daughter open a savings account and have her put money in there? Also what about 401k? How do you hide that? Can he get that?
Depositing money on to your credit card so you have a balance….some banks don't allow this. But it is sneaky!
New business model for women –
entrap a wealthy guy in love, marry him, file a divorce and claim his entire lifetime hard earned money as a settlement
Thanks to feminist laws
Thanks for the tips. My husband is using his cash back to withdraw cash each time he goes to the grocery store and then sends it to his girlfriend. He has been doing this last year and has promised me he cut ties with her but I found out recently that he has resumed this activity for a while and once again he said he will stop. I don't know what to do. We have joint accounts that he has been dipping into that is for our kids college fund and rainy day fund. What should I do?
I have a safe deposit box at the bank. I stash money there
And easy one that you forgot about. Having a second direct deposit from your employer and have it go to PayPal. And the pays stubs stay within your company's website our company's payroll department, so you don't have to worry about paste stubs.
David, my husband made a password into my bank account without my knowledge, I walked in on him into our Den. Saw my account balances that he is looking into. He said he is paying bills so I asked him why only my account. He said the bank set it up that way he did not set it up. So I went to the bank and the men that helped me asked me if I set up the following password. I said no, I do not know how to do that. Not so good on computer. He then said Mam, we do not set you personal password. This is not the banks doing, it is you spouse. Is this a felony? Just want to know. My husband does not share any financial thing with me been married 22 yes now. Still do not know anything from his side when it comes to finance. Please help.
Don’t discard the receipt from
Gift cards or prepaid cards if you have any trouble with the card you need the receipt
Great video! What about spouse taking a 50k personal loan and buying crypto knowing a divorce is likely coming, would that be traceable? I’m wondering if I would just be liable for his loan, and if I should do the same to cancel out our shared responsibility?
If my wife is from Bazil are there ways of sending oh t there to family? And is any of these things illegal?
Let's say a spouse is continuously cheating. You start cash backing for a few years and literally burry the money for a few years. After the divorce is finalized if you deposit this money into a bank account will this flag anything for fraud?